Property listed by Realty One Group United, Austin Carr 562-537-7496
$2,500,000
Value add mixed use property for sale in Long Beach along with separately parceled
parking lot in rear on apartments. Total land size of 15,431 SF between both lots. Long
terms owners and tenants with two retail units, 7 apartments units, and an excess of
parking on Long Beach Blvd. A new owner… Read More has the opportunity to convert the two retail
units out front into ADU's as well as build additional housing in the separate parking lot
in the rear of the property. Owner only pays water and property taxes, separately
metered for gas and electric. 1757 Long Beach Blvd, Long Beach, CA 90813, falls within
the Midtown Specific Plan (SP-1) zoning area. This zoning allows for a variety of mixed-
use developments, focusing on pedestrian-friendly commercial and residential project.
With 4 stories and a Floor Area Ratio (FAR) of 2.0 (assumed based on typical mixed-use
zoning), the total buildable area is 17,482 square feet. This can be spread across four
stories, giving you 4,370.5 square feet per story (17,482 sq ft / 4 stories). You can build
structures that combine retail spaces, offices, or residential units, such as apartments or
condominiums, in mid- to high-density formats. A new owner could build up to 32 units
of 500 square feet each under an FAR of 2.0 in a height of 4 stories or you could fit
around 20 units (5 units/story * 4 stories) if each unit is 800 square feet. The subject
property is located just outside the $6 Billion of development flooding into Downtown
Long Beach, including the Long Beach Civic Center, Long Beach Aquarium, OceanAire
Project, CSULB Downtown Village, Broadway Block, The Pacific and Queen Mary Island. Read Less
Listing Snapshot
Days Online
0
Last Updated
Property Type
MixedUse
Lot Size
0.35 Acres
Year Built
1936
MLS Number
PW25256090
Additional Details
Building
Built in 1936, 2 buildings, 2 stories, Levels: Two, Entry level: 1, Entry location: Front
Community
Urban
Expenses
Operating: $37,700
Garage
9 spaces
Income
Gross ScheduledIncome: $135,600, Net Operating Income: $97,900
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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